What is the first step when buying a property in Toronto?

Start by securing a mortgage pre-approval. This helps define your budget and strengthens your offer when negotiating with sellers.

Do I need a real estate agent to buy a home in Toronto?

While not mandatory, working with an experienced REALTOR® provides access to exclusive listings, expert negotiations, and local insights on Toronto’s dynamic market.

How long does the home-buying process take in Toronto?

Typically 30–90 days from offer to closing, depending on financing, inspections, and whether you’re purchasing a resale or pre-construction property.

What documents do I need to buy a home in Toronto?

You’ll need your mortgage pre-approval, valid ID, proof of income, deposit verification, and lawyer’s contact information to complete the purchase process.

What are the closing costs for buyers in Toronto?

Expect 1–4% of the purchase price for land transfer taxes, legal fees, title insurance, and adjustments such as prepaid property taxes or utilities.

How competitive is Toronto’s real estate market right now?

Toronto remains competitive, especially for condos and well-located homes. However, rising inventory has created more opportunities for buyers in 2025.

Are condos a good investment in Toronto?

Yes — Toronto condos often appreciate steadily and generate strong rental demand. Focus on transit-accessible and high-growth neighbourhoods for best results.

What neighbourhoods are best for first-time buyers in Toronto?

Leslieville, Liberty Village, The Junction, and East York are great options for first-time buyers seeking affordability and lifestyle convenience.

What’s the difference between buying resale and pre-construction condos?

Resale condos allow immediate occupancy, while pre-construction units offer time to save and potential appreciation before completion, but require longer timelines and deposits.

Can non-residents or foreign buyers purchase property in Toronto?

Yes, but there are specific tax rules and restrictions under Canada's Foreign Buyer Ban. Consult a licensed realtor and lawyer for updated guidance before purchasing.

How much down payment do I need to buy in Toronto?

The minimum down payment is 5% for homes under $500,000, increasing to 10–20% for higher-priced properties depending on the purchase amount.

Are there programs for first-time buyers in Ontario?

Yes — programs such as the First-Time Home Buyer Incentive, Land Transfer Tax Rebate, and Home Buyers’ Plan (HBP) help reduce upfront costs and make ownership more attainable.

Do I need a lawyer to buy a property in Toronto?

Yes. A real estate lawyer reviews your Agreement of Purchase and Sale, ensures clear title, and handles closing documents and fund transfers.

How can RE/MAX Plus City help me buy a property in Toronto?

RE/MAX Plus City offers full-service buyer representation, including neighbourhood tours, offer strategy, mortgage guidance, and end-to-end support from search to closing.

How do I start working with your team?

Simply fill out the buyer consultation form on remaxpluscity.com or call 647-259-8806. A licensed REALTOR® will connect with you to start your Toronto property search.

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This website may only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered via the website. The data relating to real estate on this website comes in part from the MLS® Reciprocity program of the PropTx MLS®. The data is deemed reliable but is not guaranteed to be accurate.

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